Stock Market & Financial Investment News

Best Buy new strategy underwhelming, says OppenheimerOppenheimer believes that Best Buy's new strategy fails to aggressively address the two factors that have hurt the company's results in recent years: price competition from online retailers, and an ineffective store infrastructure. The firm maintains a Perform rating on Best buy.

Wal-Mart's Apple Pay competitor launching soon, Bloomberg saysCurrentC, the mobile payment application funded by Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and others, will see an early trial run next month, Bloomberg reported earlier, citing three people familiar with the situation. A spokesperson for Lowe's (LOW) said the consortium behind the app expects an official launch in Q3, and Bloomberg noted that CurrentC will compete with more "established" offerings such as Apple's (AAPL) Apple Pay and Google's (GOOG) Android Pay. Reference Link